{"id":26208,"date":"2023-07-03T03:52:53","date_gmt":"2023-07-03T07:52:53","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=26208"},"modified":"2023-07-03T03:52:53","modified_gmt":"2023-07-03T07:52:53","slug":"bitcoin-price-holds-strong-as-the-bulls-aim-new-high-above-32k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/03\/bitcoin-price-holds-strong-as-the-bulls-aim-new-high-above-32k\/","title":{"rendered":"Bitcoin Price Holds Strong As The Bulls Aim New High Above $32K"},"content":{"rendered":"

Bitcoin price is moving higher above the $30,500 resistance. BTC is showing positive signs and might aim for a new high above the $31,400 level.<\/em><\/p>\n

Bitcoin is trimming all its losses and trading above the $30,500 resistance zone.
\nThe price is trading above $30,500 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $30,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if it clears the $31,000 resistance zone.<\/p>\n

Bitcoin Price Regains Strength<\/h2>\n

Bitcoin price declined heavily below the $30,500 support<\/a>. BTC even spiked below $29,500 before the bulls appeared. A low is formed near $29,375 and the price is now rising.<\/p>\n

It is back above the $30,200 resistance level. There was a break above the 50% Fib retracement level of the downward move from the $31,276 swing high to the $29,375 low. There was also a move above the $30,500 resistance zone.<\/p>\n

Bitcoin is trading above $30,500 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support near $30,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

Immediate resistance is near the $30,820 level. It is close to the 76.4% Fib retracement level of the downward move from the $31,276 swing high to the $29,375 low. The first major resistance is near the $31,000 level, above which the price gain bullish momentum.<\/p>\n\n

Source: BTCUSD on TradingView.com<\/a><\/p>\n

The next major resistance is near the $31,250 level. An upside break above the $31,250 resistance might send BTC toward $32,000. Any more gains could open the doors for a move toward the $32,500 resistance zone.<\/p>\n

Fresh Decline in BTC?<\/h2>\n

If Bitcoin\u2019s price fails to clear the $30,820 resistance, it could start another decline. Immediate support on the downside is near the $30,550 level and the trend line.<\/p>\n

The next major support is near the $30,200 level, below which there could be a drop toward the $29,950 support. Any more losses might send the price toward the $29,550 zone in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is above the 50 level.<\/p>\n

Major Support Levels \u2013 $30,500, followed by $30,200.<\/p>\n

Major Resistance Levels \u2013 $30,820, $31,000, and $31,250.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is moving higher above the $30,500 resistance. BTC is showing positive signs and might aim for a new high above the $31,400 level.<\/em><\/p>\n

Bitcoin is trimming all its losses and trading above the $30,500 resistance zone.
\nThe price is trading above $30,500 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $30,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if it clears the $31,000 resistance zone.<\/p>\n

Bitcoin Price Regains Strength<\/h2>\n

Bitcoin price declined heavily below the $30,500 support<\/a>. BTC even spiked below $29,500 before the bulls appeared. A low is formed near $29,375 and the price is now rising.<\/p>\n

It is back above the $30,200 resistance level. There was a break above the 50% Fib retracement level of the downward move from the $31,276 swing high to the $29,375 low. There was also a move above the $30,500 resistance zone.<\/p>\n

Bitcoin is trading above $30,500 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support near $30,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

Immediate resistance is near the $30,820 level. It is close to the 76.4% Fib retracement level of the downward move from the $31,276 swing high to the $29,375 low. The first major resistance is near the $31,000 level, above which the price gain bullish momentum.<\/p>\n

Source: BTCUSD on TradingView.com<\/a><\/p>\n

The next major resistance is near the $31,250 level. An upside break above the $31,250 resistance might send BTC toward $32,000. Any more gains could open the doors for a move toward the $32,500 resistance zone.<\/p>\n

Fresh Decline in BTC?<\/h2>\n

If Bitcoin\u2019s price fails to clear the $30,820 resistance, it could start another decline. Immediate support on the downside is near the $30,550 level and the trend line.<\/p>\n

The next major support is near the $30,200 level, below which there could be a drop toward the $29,950 support. Any more losses might send the price toward the $29,550 zone in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is above the 50 level.<\/p>\n

Major Support Levels \u2013 $30,500, followed by $30,200.<\/p>\n

Major Resistance Levels \u2013 $30,820, $31,000, and $31,250.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-26208","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=26208"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26208\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26208"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}